How Can You Speed Up the Process of Claiming Surplus Funds in Duval County?

May 8

Written By Visionary Surplus Recovery LLC

If you've recently experienced a foreclosure or tax deed sale in Duval County, which includes Jacksonville, St. Johns, Atlantic Beach, and other nearby cities, you might be entitled to surplus funds. These funds come from the excess proceeds after the property is sold at auction, typically for more than the amount owed on the mortgage or tax debt.

Understanding how long it takes to receive surplus funds in Duval County is key to ensuring that you claim what’s rightfully yours.

Understanding Surplus Funds in Duval County

There are two primary ways surplus funds are generated in Duval County: through foreclosure sales or tax deed sales.

Foreclosure Surplus Funds: These occur when a property is sold at auction for more than what was owed on the mortgage and other associated costs.
Tax Deed Surplus Funds: These arise when a property is sold for more than the delinquent taxes, penalties, and fees owed to the county.

Once the sale occurs, the surplus is held by the Duval County Clerk of Courts until someone claims it. Here’s a breakdown of the claim process and the timeline involved.

Foreclosure Surplus Funds Claim Timeline in Duval County

If the sale resulted from a foreclosure, the process for claiming surplus funds generally includes the following steps:

Notification from the Clerk's Office: After the foreclosure sale, the Clerk's office identifies if there are surplus funds and sends notifications to potential claimants.
Claim Filing: You must file a claim with the Duval County Clerk to receive the surplus funds. This typically involves submitting a completed claim form and supporting documents.
Court Review: If there are multiple claimants, the court reviews the claims, which can delay the process. In simple cases, where there is only one claimant, the funds are typically disbursed without the need for a hearing.
Disbursement of Funds: Once the court approves the claim, the Clerk’s office will issue the funds.
- Timeline for Disbursement: If there are no disputes or complications, it usually takes 4 to 8 weeks from the date of filing your claim to receive your funds.
- In contested cases or cases that involve more complex legal issues, such as disputes over the rightful claimant, the process can take longer.

Tax Deed Surplus Funds Claim Timeline in Duval County

Tax deed sales in Duval County follow a similar process to foreclosure surplus funds. Here’s what to expect:

Notice of Surplus Funds: The Clerk of Courts will notify any potential claimants if surplus funds exist after a tax deed sale.
Claim Period: According to Florida Statute 197.582, there is a 120-day window to file a claim for the surplus funds. This gives you time to gather all necessary documents and file your claim.
Claim Processing: The Clerk’s office processes claims after the 120-day period ends. If no claims are filed during that time, the funds are transferred to the state as unclaimed property.
Disbursement: Once your claim is approved, the Clerk will release the funds, which could take a few weeks to a couple of months depending on the volume of claims and any legal complexities involved.

What Factors Can Affect the Surplus Funds Timeline in Duval County?

Several factors can impact the timeline for receiving your surplus funds in Duval County:

Claim Complexity: If there are multiple parties claiming the surplus funds or if the funds are tied up in legal disputes, it can extend the timeline.
Probate Issues: If the original property owner is deceased, probate may be necessary to transfer the funds to the rightful heirs, adding additional time to the process.
Court Backlogs: High volumes of claims can slow down the process, especially if the Clerk's office is dealing with numerous surplus claims at once.